Sarasin & Partners LLP Purchases New Shares in New Relic Inc (NYSE:NEWR)

Sarasin & Partners LLP purchased a new stake in New Relic Inc (NYSE:NEWR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,972 shares of the software maker’s stock, valued at approximately $3,631,000. Sarasin & Partners LLP owned approximately 0.07% of New Relic as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of New Relic by 2.3% during the 1st quarter. BlackRock Inc. now owns 3,880,134 shares of the software maker’s stock worth $382,970,000 after acquiring an additional 87,904 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of New Relic by 1.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,495,239 shares of the software maker’s stock valued at $147,580,000 after purchasing an additional 23,079 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of New Relic by 1.4% in the 1st quarter. Baillie Gifford & Co. now owns 1,018,161 shares of the software maker’s stock valued at $100,492,000 after purchasing an additional 14,416 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of New Relic by 100.8% in the 1st quarter. JPMorgan Chase & Co. now owns 506,340 shares of the software maker’s stock valued at $49,975,000 after purchasing an additional 254,231 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of New Relic by 35.9% in the 1st quarter. Wells Fargo & Company MN now owns 474,229 shares of the software maker’s stock valued at $46,807,000 after purchasing an additional 125,157 shares during the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

In other New Relic news, insider James R. Gochee sold 5,673 shares of New Relic stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $100.95, for a total value of $572,689.35. Following the completion of the sale, the insider now owns 285,234 shares of the company’s stock, valued at approximately $28,794,372.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lewis Cirne sold 21,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $104.75, for a total transaction of $2,199,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,950 shares of company stock valued at $17,972,923. 17.40% of the stock is owned by company insiders.

Shares of NEWR stock traded down $0.45 during trading hours on Wednesday, hitting $94.07. 19,394 shares of the company’s stock traded hands, compared to its average volume of 868,318. The stock has a fifty day moving average price of $92.14. New Relic Inc has a 12-month low of $70.30 and a 12-month high of $113.34. The firm has a market cap of $5.53 billion, a PE ratio of -303.42 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 2.90 and a current ratio of 2.90.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, May 14th. The software maker reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Relic had a negative net margin of 8.53% and a negative return on equity of 6.57%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $128.19 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities research analysts forecast that New Relic Inc will post -0.56 earnings per share for the current year.

A number of brokerages have recently issued reports on NEWR. Goldman Sachs Group began coverage on HubSpot in a research note on Friday, June 7th. They issued a “buy” rating and a $223.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 price target (down from $118.00) on shares of New Relic in a research note on Tuesday, July 16th. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $87.00 price target on shares of LivaNova in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. New Relic presently has a consensus rating of “Buy” and an average price target of $114.92.

New Relic Company Profile

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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Institutional Ownership by Quarter for New Relic (NYSE:NEWR)

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